Of all the things that get lodged in the craws of small business owners, one of the biggest is long-vacant, neglected, nearby commercial spaces that prominently stand on a commercial corridor's main drag.

Some business owners suggest that it's often too costly for a landlord to bring certain spaces up to code for redevelopment. Others suggest that a space's owner keeps it empty and undeveloped because it's a good tax write-off.

Ed McNamara, the head of Turtle Island Development, a development firm that has earned a reputation of working with residents and supporting tenants, says he's seen no evidence of that.

“I’m not aware of any reasons to keep a property vacant for tax reasons," he says, "but that doesn’t mean there aren’t such reasons.”

Dieringer concurs. There may be tax loopholes out there, but he isn't aware of them. He says the investors he knows would rather fill spaces and generate income. After all, by simple logic, when a landlord pays taxes, he or she is generating income.